HOUSE prices rose almost £70 a day last month, fuelling hopes that the housing slump is finally at an end.

Figures from the Halifax show that the average property cost around £163,049 in June – up 1.2% on May.

Halifax housing economist Martin Ellis said: “Low interest rates, an increase in the number of people in employment and some tightening in market conditions earlier in the year are likely to have been the main factors behind the recent improvement.”

House prices in the three months to June were 0.5% down on the previous quarter – but this was the smallest fall since the second quarter of last year.

The three-month average was 3.5% lower than a year ago and prices were broadly flat when compared to the start of the year, the Halifax study added. The increase prompted at least one expert to revise a previously ­pessimistic ­prediction for rapidly tumbling house prices.